Common use of Failure to Make Replacements Clause in Contracts

Failure to Make Replacements. The first sentence of Section 7.3.4(a) is hereby modified by adding the following to the end thereof: “, unless such cure cannot reasonably be completed within 30 days (as determined by Lender in its discretion), in which event said cure period shall be extended for up to 60 additional days so long as Borrower shall have commenced such cure within the original 30-day period and shall diligently pursue the cure to completion.”

Appears in 4 contracts

Samples: Mezzanine Loan Agreement, Mezzanine Loan Agreement (TNP Strategic Retail Trust, Inc.), Loan Agreement (TNP Strategic Retail Trust, Inc.)

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